Magnetic Resistance Braking
Would this be similar to electric trailer brakes?
Will
Nope. Timed electromagnets and permanent magnets retard the wheel, IIRC. There is an amusement park ride, "Superman" that is about 10 years old that uses this to accelerate the carts and then stop them. Well, maybe.
Shortly after the ride opened up, my wife and I and another couple went to go on Superman. It accelerated us smoothly up to about 100mph (I'm guessing), then you coast with the carts pointed straight up into the sky. You slow to a stop, then coast back down at about the same speed backwards. When you enter the boarding area, the magnetic drive is supposed to slow you down and stop you. We felt a jolt as we came blasting into the building backwards, then WHOOSH! We blew through the emergency doors backwards at maybe 75mph. A large spring like you see in railroad yards jolted up to a stop. They hooked up a winch and slowly drug us back into the building.
My wife and her friend were petrified. Doug and I were grinning. They asked everyone to get out of the cart, but Doug and I protested, since we didn't get the "full treatment". After a bit of debate they let us be human guinea pigs again. This time it worked correctly, stopping us quickly and smoothly without the extra 100' of drama.
It's probably a great technology, but I'm a bit sceptical. I have a CMM (Coordinate Measuring Machine) that uses a linear magnetic drive much the same way, and it is currently busted and the company stopped making that type of drive mechanism. I'm going to retrofit to conventional servomotor drive when I get really bored.